Dec 10, 2012 5:00pm EST
. that is nicholas maduro. venezuela's oil minister announced at the last opec meeting the country has the largest oil reserves in the world. would the death of chavez have a major impact on the global oil market? with me, john kingston, platt's global director. welcome back to the show. this is huge. we've been following this for a long time but i mean it's very serious. emergency surgery. it is his third surgery. he never talked about what kind of cancer he has but at this point it has got to be very serious? >> i think we can assume the chavez area is almost over. as colleague of mine said i heard you refer earlier why that is setting up uncertainty in the market. you're always a little better with the crazy that you do know than the one you don't. melissa: i guess. >> what the future holds could be civil strife, not a civil war but i have felt for a long time that the biggest risk in oil markets would be a precipitous collapse of the venezuelan industry. you hate to think that the death of mr. chavez would set that off but ped vest is a, the state oil company has been essentially gutted by cha
Dec 10, 2012 4:00am EST
are where opec comes in and start to address crisis or supply in particular or technically how the market trades itself around that band. there was never really a premise to where people were looking for that to exceed 27 or '8, it started getting into the 30 level because of fundamental breakdowns. and i think that's the reason why a lot of people are starting to look at the historics to see if we hit that moving average which is much lower. >> michael gur ka from spectrum asset management, thank you so much. and thank you, everyone, for tuning into the show. i'm kelly evans. ross westgate will be back here tomorrow morning. now it's time for "squawk box" in the u.s. we'll keep an eye on the markets. have a great day. >>> good morning. president obama and john boehner meet face-to-face on sunday. does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.
Dec 10, 2012 8:30am EST
. it required outstanding diplomacy and -- to balance the risks and demands of peace in the sort of opec security environment of the cold war period, which perhaps, perhaps most people to remember but perhaps some do not. so, before turning the program over to marvin though, i would just like to mention, we have a new book that's very pertinent to the subject, the reagan-gorbachev arms control breakthrough, edited by david t. jones, and dedicated to ambassador, the late ambassador maynard whitman, who was the principal inf treaty negotiator and leader of or inf delegation. and copies of this book are available at the baca the room for those of you who would like to purchase one afterwards. so without further a due it's my pleasure, to wish all happy holidays and to turn the program over to marvin. marvin? >> thank you very much, this. it's always a pleasure for me to be asked to come here to moderate a panel. my life has been absolved with the foreign service for an awful long time. though i only work in the foreign service for a year and a half. 1956-seven and moscow. but since that tim